Re:Why I’m Cryptophobic
by jrm4 on Thursday June 30, 2022 @02:35PM
(#31936618)
Weird argument, you're presuming that it has no value today because it doesn't work YET. But, that's like the whole point of e.g. IPO's. People sometimes put money in something in the belief that it, or something related to it, will work later.
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So when, exactly, is "later"? Bitcoin is nearing it's 14th birthday which seems like plenty of time to make it "work".
The argument I've been making is that Bitcoin is the equivalent of the Model T; the prototype thing that essentially "proves" the technology can, and even will work, but it won't be the actual thing. It will likely be a different cryptocurrency.
Re:Why I’m Cryptophobic
by tsimionescu on Thursday June 30, 2022 @03:20PM
(#31937248)
Bitcoin can't scale to real numbers of transactions (say, enough to handle the daily needs of a small town) fundamentally by design. Investing in Bitcoin with the expectation that it will ever scale to Visa levels of tps is like investing in an early-stage cold fusion start-up.